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    Question

    A ____________ is a formal (explicit) "agreement" among

    competing firms to an organization of producers and manufacturers that agree to fix prices, marketing, and production.
    A Monopolistic competition Correct Answer Incorrect Answer
    B Cartel Correct Answer Incorrect Answer
    C Monopsony Correct Answer Incorrect Answer
    D Monopoly Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    The correct answer is B

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